Best Bad Credit Loans With Guaranteed Approval In 2021



The average loan offered by most lenders is for borrowers with fantastic credit scores. For that reason, people with bad credit scores often find it very hard to access these types of loans. But the good news is, there is now a way for less financially-savvy individuals – who can’t manage their credit score to save their lives – to acquire a bad credit loan with guaranteed approval.

We all continue to find ourselves in one fix or another. And during such times, we require quick cash to bail ourselves out. For those with a good credit score, this is easy to do as there are loads of lenders out there willing to offer them personal loans for a price. However, when it comes to those with bad credit, finding a lender is never easy.

In this article, therefore, we decided to help out our readers by reviewing the top bad credit loan providers and exploring the easiest ways to acquire such a loan regardless of your credit score!

Top 3 Bad Credit Loan Providers

If you have not been able to improve your credit score but require a personal loan to take care of pressing needs for one reason or the other, you are in luck. Bad Credit Loans are loans issued to people with poor credit.

With a growing population of people battling with bad credit, this is created an opportunity for bad credit loan online companies. In subsequent sections, we will review the bad credit loans offered by:

1. MoneyMutual Bad Credit Loans

MoneyMutual is an online loan company that offers bad credit loans to borrowers who would otherwise not get loan opportunities from other lenders. This loan company has an extended credit rating threshold for borrowers with poor credit scores, and they offer different types of Loans. Here are their bad credit loan categories.

Payday Loans

Payday Loans are special loans issued to salary earners. They are called payday loans because lenders expect them to repay the loan on their next payday. The terms of MoneyMutual’s payday loans vary depending on so many factors.

Installment Loan with Bad Credit

This is another type of Bad Credit Loan offered by MoneyMutual lenders. People with very bad credit and who cannot afford to service a payday loan with their next paycheck can opt for this loan. This option has a longer repayment tenure, so borrowers can pay back over several months. However, note that the repayment plan varies from one MoneyMutual lender to the next.

No Fax Bad Credit Loan

This option is not different from the other loans discussed this far. It gets its name from the fact that it is easy to apply for, and loan disbursement is fast without the use of fax machines.

Short term loans for bad credit

Short-term loans are for emergency purposes. Borrowers with bad credit can access this loan facility to clear short-term responsibilities. In addition, the loan tenure for this loan is much longer, so you can spread your repayment across several installments.

Cash Advances

Cash Advances are small loan amounts issued at short notice, and they attract lower interest rates compared to the other loan options offered by MoneyMutual lenders.

MoneyMutual Lending Process

If you want to borrow a bad credit loan from MoneyMutual, these are the steps to take:

  • Log onto and submit your details for a lender to review
  • A lender will forward you an offer for your perusal and acceptance
  • You grant approval to the lender to retrieve the loan and interest from your bank account at a set date and time (usually on your payday)
  • You receive the funds from the lender within the next 24 hours after contract details are agreed

Once you fill out your details on the platform and submit, your document will be submitted to MoneyMutual partners, who will contact you within a short time. You will be redirected to their website to complete the registration process.

Borrowers in the US looking for guaranteed bad credit loans can use MoneyMutual to connect with interested lenders. The process is fast and convenient, and your privacy is guaranteed.

Loan Requirements

The loan requirements vary depending on the lender interested in offering you the loan. MoneyMutual does not issue loans directly to borrowers but is only a conduit for such loans. Therefore, terms and conditions are dictated by lenders only, but you are at liberty to reject a term that is unfavorable to you. However, here are some general requirements that most lenders will demand before they lend out money.

  • You must be a US citizen and at least 18 years old
  • Earn at least $800 monthly with a verifiable income source
  • Own a checking account
  • Personal requirements by the lender

Benefits of using MoneyMutual

You may have suffered a bounced check, declared bankruptcy, or defaulted on your payment, but it doesn’t matter. There is always at least one lender waiting for you at MoneyMutual. On this platform, you enjoy

  • A wide network of lenders
  • Flexible repayment plans
  • Less stringent eligibility criteria
  • Competitive interest rates
  • Multiple loan options

2. BadCreditLoans

BadCreditLoans is another reputable platform for guaranteed loan approval even with bad credit. This platform assists entrepreneurs and skilled workers looking for quick loans but with limited opportunities. On this platform, there are lenders willing to lend cash to high-risk borrowers. Some of the partners working with this platform are tribal lenders. Tribal lenders are lenders who issue loans at interest rates higher than the average rate offered by state lenders. However, they are not subject to state laws but tribal and federal laws.

So regardless of your current credit rating, you will definitely find a lender on this platform.

BadCreditLoans Service

BadCreditLoans is an online loan platform and not a direct lender. The platform is merely a free online platform for borrowers and lenders to interact. As a borrower, you simply visit the platform and indicate your need to borrow money by filling the online form. Once your form is submitted, the information will be communicated to lenders on the platform who will offer you loans that you are not under any obligation to accept.

BadCreditLoans has an advanced proprietary technology that markets your data to interested lending partners scores a large network. The platform will also advertise loan opportunities posted by different lenders to you as well. Furthermore, other credit-related services will be marketed to you as well.

The good news with this platform, like the others reviewed in this article, is that your personal information will not be revealed to lenders without your permission. The only thing that will be communicated is your intention to apply for a loan and nothing more.

How to apply for BadCreditLoans?

The process is relatively simple. All you need to do is

  • Log onto the website and fill out the loan application form
  • Submit the form
  • Lenders will review your information and contact you with their loan products
  • Select a loan that meets your requirement
  • Accept the terms and conditions
  • Receive the loan into your bank account

Loan Requirements

The Requirements for accessing a loan on this platform depend on the lender. The good thing about BadCreditLoans is that you don’t have to waste your time searching for a lender whose requirements you meet. The lenders will be the ones to contact you if you are eligible for their loans. However, you need to be:

  • A US Citizen
  • Be at least 18 years old
  • Have a checking account

Benefits of using BadCreditLoans

BadCreditLoans is a reliable platform if you want a quick loan despite your poor credit. Here are some benefits of using the platform:

100% free

This service is free, and you don’t have to pay any money to access the large network of lenders. All you need is an internet connection and a device to access the platform


The interest rates and conditions attached to the loan will be communicated to you, and you are not under any obligation to accept the loan if it does not suit you. This means that you are free to walk away if the terms are unfavorable.

Privacy & Security

Your privacy and information are secure. The platform has advanced security encryption to protect your information from hackers. Furthermore, your sensitive information will not be sent to lenders; only your intention to borrow a loan will be made known to them without your identity flooding the internet.

Available round the clock

BadCreditLoans is available to users round the clock, making it a great platform to apply for a loan at short notice.

No extra charges

You don’t pay any extra fees for loans you borrow via the platform. BadCreditLoans only connects you with a lender, and they don’t charge you for the service.

Large lender network

There are so many lenders on the network, so your chances of finding a lender are high.

Utility Services

BadCreditLoans also connects you with support services to help you repair your credit in case you are not able to find a lender willing to give you a loan. With the help of credit repair experts, you can improve your credit rating.

3. CashUSA

Another very good platform where you can access a bad credit loan is none other than CashUSA. On this platform, there are credit personal loan lenders willing to offer you a loan even with bad credit. The loan amount issued to you will depend on the special Eligibility requirements of the lender interested in issuing you the loan. Also, the interest rates are never the same as different lenders have their independent rates attached to the loans that they offer. On average, the loans available on CashUSA have varying tenure ranging from 3 months to 72 months and interest rates ranging from 5.99% -35.99%.

If you are interested in applying for a loan via this platform, your current credit rating will determine how much you are eligible for and at what interest rate. Once you find a loan facility whose terms you are comfortable with, you can follow through with the process and have the amount deposited into your checking account. Like the other platform reviewed thus far, you are not under any obligation to accept any loan on CashUSA, and there are no extra costs for using the platform.

How to apply for a loan via CashUSA:

The application process is relatively straightforward. All you need to do is:

  • Visit CashUSA’s website and fill the loan application form
  • A lender will contact you and make you a loan offer
  • Review the terms and conditions and sign off on the loan
  • Have the loan amount deposited into your checking account

The loan amount available in CashUSA ranges between $500-$10,000, depending on your credit rating and state. However, here are general eligibility requirements most lenders demand before they issue loans to borrowers. The borrower must be:

  • 18 years old and above
  • Earn at least $1000 after tax
  • Have an email address
  • Operate an active checking account
  • Provide a phone number and house address
  • Must be a US citizen or a permanent resident in any US state

These are some of the eligibility requirements demanded by lenders, but there may be more requirements. Extra requirements will be communicated to you by the lender you deal with.

Benefits of using CashUSA

Here are some of the benefits of applying for a bad credit loan via CashUSA.

Fast and Convenient

The process is fast and convenient and is all done online. You don’t have to visit the office of the lender or submit physical documents of any kind. Once you submit your online form and are eligible for a loan by any lender, the process can be completed within minutes. It’s that easy.

Quick cash

Cash disbursement is immediate once your loan application is approved. There are no waiting times or unnecessary delays. If you have faced one frustration or the other in the past applying for a personal loan, rest easy because, with CashUSA, your experience will be different. The cash is disbursed in under one working day.

Privacy Guaranteed

No one likes to be in debt, and most importantly, no one likes to have their loan application made public. With CashUSA, your personal information will be protected from prying eyes since the platform is safe and secure.

Convenient repayment plan

The loans on CashUSA have flexible repayment plans that will reduce the repayment burden on you to pay back at short notice. With so many lenders willing to give you a loan, you will definitely find a lender offering you an extended repayment plan.

What is bad credit?

Bad credit is a situation where a borrower has an active credit debt left uncleared in one or all three credit bureaus. For those who may not know this: the credit bureau curates comprehensive data of all unpaid credit over a certain period. These credits come in different forms, such as:

  • Loan Application
  • Number Of Approved/Rejected Loans
  • Credit Card Approvals
  • Credit Card Loans
  • Foreclosures
  • General Debts Unpaid

Suffice to say that all your credit transaction are stored in your credit report, and lenders use this document to evaluate your loan application. So a bad credit is evidence of a debt pile-up left uncleared by an individual.

How do lenders evaluate a loan application?

When you approach a lender for a loan, the lender uses the data in your credit report to calculate your credit score. The higher your credit score, the lower the level of risk you pose to the lender; the lower your credit score, the higher the level of risk you pose to the lender. So, in a nutshell, lenders use your credit score to evaluate your ability to repay the loan you are applying for. They also use the score to decide the amount to loan you and the interest rate to charge for the loan.

In the same way, some property owners also use your credit history to determine your creditworthiness when it comes to fulfilling your financial responsibilities as a tenant as far as paying your rents.

So when it comes to applying for loans, people with bad credit are seen as high-risk borrowers, and high-risk borrowers mostly do not get the loans they apply for because they fall under the red list of many lenders.

Five main factors that cause bad credit:

Several factors cause many people to have bad credit. In this section, we review some of them:

1. Late debt payment

Paying your debt is one thing, but paying it on time is another. If you delay your payments or financial obligations, your overall creditworthiness will be impacted more than you can imagine.

For example, your payment history represents 35% of your total credit score. So, if you have delayed making payments for more than 30 days, your creditor may post this information in one of the credit bureaus and this data will be registered against your profile.

A consistent delay on most of your payments will eventually begin to affect your credit ratings without your knowledge. This is why financial advisors warn against late payments of debts. Some common examples of late payments that may affect your credit score and cause you to have a bad credit include

  • Late utility bills payment
  • Late credit card payments
  • Late payments to lenders

So defaulting on your debt consistently will affect your credit score and, if left unchecked, will reduce your chances of getting a conventional loan.

2. Debt transfer

Having your debt transferred from a lender to a debt collector is one sure way of ruining your credit score. Some lenders have a standard practice of either selling their debt to an agency or hiring the agency to help them retrieve the money owed. This is a bad situation to be in if you have to deal with a debt collection agency. These third-party agencies, having had the debt transferred to their account, update this information with the credit bureaus. Once your profile is registered by such an agency as a loan defaulter, it will reflect poorly on your history. Repairing your profile will take a lot of work, starting with paying back the money borrowed.

3. Bankruptcy

Bankruptcy is another way people get bad credit. For example, business people may end up filing for bankruptcy if their businesses are no longer able to meet their financial obligations like paying their debt. In such a situation, they have no option but to file for bankruptcy so that the authorities can grant them legal protection. In such a scenario, the financial rating of such a business entity will be destroyed.

Even worse is the impact the filing will have on the individual who filed the bankruptcy claim. The record will be registered with the business owner’s profile and will stay that way for at least seven years. Unfortunately, if you have ever filed for bankruptcy for your business, lenders will not be too keen to give you a loan because your credit score will be badly affected.

4. A debt charge off

Debt charge-offs are very common and have been for a very long time, but what does it mean? A debt charge-off is a situation where a lender gives up hope after several unsuccessful attempts to get back money borrowed to an individual. Even though the lender stops coming for the loan, the record still remains in the borrower’s credit history.

For example, if you have an account you use to purchase a service or a product and you are charged the value of the purchase from the account. If you fail to pay for services or products purchased and the lender or product provider blacklists the account because you refused to pay what you owe, the debt remains in place even though the account is no longer active. Debt charge-offs reduce your credit ratings, and the account is registered in your credit profile for at least 7 years.

5. Loan default

Loan defaults are just like debt charge off. The only difference is while the latter is for a service or product you did not pay for, the former is for the cash borrowed from a lender but not repaid. Lenders forward the information of defaulters to the credit bureau, and once this happens, the reputation of such a borrower will be damaged, so much so that other lenders will reject future loan applications by the borrower.

Benefits of Bad Credit Loans

Most people who have bad credits do not have access to conventional loan facilities, and the few who are lucky even to have their application looked at are placed through a tough process. At the end of the day, they may not even get their application approved. But with a base credit loan, they can meet urgent financial needs at short notice. Here are some of the benefits of bad credit loans

Debt consolidation

One of the benefits of bad credit loans is that it allows you to consolidate your outstanding debt. With the proceeds from the loan, you can pay off other creditors. What this does is that it reduces your indebtedness while ensuring that you only owe a single entity. In this case, that will be the bad credit loan lender. Moreover, as you pay off your other debt, your credit score will improve.

Meet pressing needs

Bad credit loans grant you cash access to meet urgent financial needs despite being in debt. With a rising debt profile and a static income, meeting immediate needs is not easy, especially when no one is willing to lend you money because of your bad credit. With a bad credit loan, however, you can stay afloat for the time being.

Improve your credit score

Although we have mentioned this point before, it is one of the greatest benefits of bad credit loans, especially if you use the loan to settle other debts. For most people, their debt profile doesn’t rise overnight. Similarly, repairing a bad credit will not happen overnight either. It takes time, but as you pay off your debts one after the other, your credit score will begin to improve. As your score improves, you will be able to better access credit lines.


If you have a poor credit score and you have been looking for loans for bad credit online, all the websites reviewed in this article are rich sources to get in touch with bad credit loan lenders. The guaranteed loans available on these platforms have flexible eligibility requirements, and loans are disbursed as quickly as possible after the loan is approved by the lender.

However, before you sign off the loan, make sure you are comfortable with the terms and conditions offered by the lender. If you don’t like what is offered, you are free to reject the loan and wait until you find a loan that fits your requirements.


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